The global wood pellet market size was valued at over USD 8.4 billion in 2018 and is expected to reach around USD 19 billion by 2026 with rising 11% CAGR from 2019 to 2026.
The product is obtained by recycling the timber and forest residues into clean, renewable biomass fuel. Increased government spending on renewable energy for power generation is expected to stimulate market development. Rising demand for cleaner and renewable sources for power generation owing to instability in fossil fuel prices is also expected to propel the product demand. Moreover, wood pellets help reduce the Greenhouse Gas (GHG) and carbon emissions, which is likely to augment their usage; thereby boosting market growth. On the other hand, increasing integration among timber industries towards pelletization is likely to be a major concern for the manufacturers over the forecast period. However, several policies and agreements, such as the Kyoto Protocol, the Paris Agreement of COP21, and the American Clean Energy and Security Act, are estimated to drive the product demand. In addition, increasing R&D activities to develop innovative manufacturing procedures for wood pellets are projected to have a positive impact on the market growth.
The report analyzes and forecasts the wood pellet market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global wood pellet market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the wood pellet market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of wood pellet market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
The main objective of this report is to aid the user in understanding the market as a whole, its definitions, segmentation, market potential, influential trends, and the barriers that it is facing. Meticulous research and analysis were an important part of the report preparation. Those reading the report will be able to get a detailed understanding about the market. Industry experts have verified and checked the data and information that have been taken from credible sources like websites, annual reports of companies, journals, and other resources. In order give the facts and data a pictorial form, diagrams, graphs, pie charts, and other representations have been used. That augments the visual appeal of the report and makes understanding it much easier.
Some of the key companies in this market are Drax Group PLC; THE WESTERVELT COMPANY, INC.; Georgia Biomass, LLC; Pinnacle Renewable Energy, Inc.; and Vermont Wood Pellet Co. Large-scale companies aim at expanding their manufacturing facilities in developing economies where the raw material is available in abundance. They also invest more in R&D to improve the manufacturing processes and offer high-quality products. Majority of these companies are regional or local and focus on reducing their manufacturing costs and broadening customer base by serving industrial applications.
Key financial developments of a particular company and product & company overview are some of the elements that help in acquiring information about top vendors in the market. This particular section has also included a SWOT analysis of the companies featured in the report. This will help the audience in knowing about opportunities, strengths, threats and weaknesses that are facing by the key vendors in the chemical and material industry across the world. As the competitive landscape is the most valuable part of any report, it consists of all the required information for the detailed study of top players functioning in the industries. It is also an interesting part to find how exactly these key manufacturers implement various strategies to secure the top rank in the industry. Such an in-depth information is useful for the new entrants into the industry as they would be able to learn a bit from these key vendors. Similarly, the information provided in the research report will also be valuable for the renowned key players as well, as they come to know the strategies of their counterparts to sustain in the competitive industry.
Wood Pellets Market, Grade by Application
Wood Pellets Market, by Application
The above information is provided on a regional and country basis for the following:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
Key suggestions from the report: